Standard Chartered: China’s 7.5% Growth Target a Challenge

3/6/2014 4:40AM

Volatile emerging markets hurt Standard Chartered Bank's profits after growth tapers for the first time in a decade. The WSJ's Deborah Kan speaks to Standard Chartered's Asia CEO Jaspal Bindra about his take on emerging markets and China's growth.

This transcript has been automatically generated and may not be 100% accurate.

... the ... in its first drop in annual profits in a decade and a con joining me now is as high ... as the AdSense old ... gospel is good to see him ... to that emerging markets because it seems like I'm a lot of investors are kind of ... fleeing emerging markets are now lot of volatility how to explain that right now ... it's a tough love because you're seeing a stronger EU sentiment to alter for emerging markets with the fundamentals things of ... the emerging markets for the creation of into the due to the ... and in fact what we are seeing is that the GDP ... it will be shown in two thousand fourteen ... is predicted to be a ... sequence like this and just had the maples and to connect to forty percent so ... if recalled that is fundamental growth ... of new ... members picked up last of the same thing that the of ... the real economy growth is actually happening much more ... Ikea but the ... witches have to wait for the bad girl crucial up and for that sentiment of it that at this hour how much is that volatility impacting your profits ... when GDP of the two things are happening lobbyists that the speaking for some countries ... the future of fuel ... and creaking concern political McGraw government spending is giving constraint topics is getting can state ... so those are ... the markets which of the constraints of deficit in getting the mission be to play once in the markets ... on the other hand a kitty cat ... that is the new challenges which are coming ... to leave home extended critique ... that is being generated from Japan from the U S ECB adding zero interest rates on their deposits said ... and that is the ... pot of the margin compression ... went to beach ... which has cost us system created caps for great people one million dollars as the margin compression cocktail of better about how you're looking at China right now I get to the government's about it said seven point five percent ... growth for the holiday um how do you view it ... we hope to get the somehow think it's kind of thing going back to real something that's a ... stitch ... in a challenging task of issue because ... if the Up on Spalding ... Froman explored investment led to a ... domestic consumption baby pics quite a lot to grow it somehow ... the other thing is this for the first time ... and that this year ... be looking to pull pollution ... the practical Commission has taken a drop in China ... so they got to the bustling but ... this is the start of something that would have to buy ... what you think is a more realistic ad growth rate given what's going on I suspect that the view finder be open to the seven ... network talking about the ... books we defy success ... I can but didn't have to resort to some a living bill for ... investment ... push ... that to me to be listed with the kids that would make it through an almost ... psychic villages have backed into him because there's so much attention Aselsan's ... what it does and does overcapacity in industries and it's a problem for the ... day and I did that and achieve a significant Peter Sands ... said last year that Standard Chartered expected income from mainline operations to be in the double digit of profit that is that still the case with under seven percent this year so the talk to them due to ... a buyer to adopt is just domestic ... What to be given you can turn out for us so we make a ... huge amount of a review of Chinese companies in them ... so the nickel can come from China is now up at seven and seventy five million dollars is going ... to be yet ... so that's a big pot ... again be caught in the international aviation business which again leaving hundreds of millions on the subpoena gum ... is akin to the top of tightness of her book The cooking together and enough offer from associates the bull by the ... investment is almost doubling the CIA ... then all of the total at some point and asked Caleb what ... they care about in Shanghai studying the solar company ... I'd be content with the first official the fall so I bought it for for funding in China twenty make of that ... but come into the cauldron from the competes in for the buck to read or buying them into a movement ... but to PD ... if the outward was cool market ... dynamics in China ... then we should be prepared to see some of these happen it happens to be on the block ... should we should allow it to help with that in ... the van ... in the last time and the was a truck stop in which to of ... course come into the same people the government can seemingly be rooted out ... I'm and people are not happy about that and then they can or will be happy about this as I get all ... but five of one of you reading this kind of fall open market fall that would lead to the cotton seed ... lifting market forces decide the future of the soul a bomb ... is probably the best we suspect the right direction to the Afghan thanks Fran that's